The Investment Company Institute is the national association of U.S. investment companies, including mutual funds, closed-end funds, exchange-traded funds (ETFs), and unit investment trusts (UITs). Members of ICI manage total assets of $11.82 trillion and serve nearly 90 million shareholders. Flow estimates are derived from data collected covering more than 95 percent of industry assets and are adjusted to represent industry totals.
Taxable bond funds attracted the most new money in the final week of 2010, while municipal bond funds had the biggest redemptions. For the year, taxable bond funds pulled in a whopping $249 billion, dwarfing the flows into foreign equity, hybrid, and municipal bond funds. Domestic equity funds had redemptions of $86 billion in 2010, despite the fact that the U.S. equity markets enjoyed their second straight year of double-digit gains.
